Pinnacle Financial Partners (NASDAQ:PNFP) Receives Average Recommendation of “Hold” from Analysts
Shares of Pinnacle Financial Partners (NASDAQ:PNFP) have been given a consensus rating of “Hold” by the nine research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $60.00.
A number of analysts have recently weighed in on the stock. Raymond James set a $8.00 price target on shares of Superior Energy Services and gave the stock a “buy” rating in a report on Wednesday, April 17th. BidaskClub downgraded shares of Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 15th. Zacks Investment Research reissued a “hold” rating on shares of Western New England Bancorp in a research note on Saturday, June 29th. Finally, Stephens reissued a “hold” rating and issued a $63.00 price objective on shares of Pinnacle Financial Partners in a research note on Thursday.
In other Pinnacle Financial Partners news, Director Charles E. Brock sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $56.05, for a total value of $112,100.00. Following the completion of the transaction, the director now directly owns 36,304 shares in the company, valued at approximately $2,034,839.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Richard D. Callicutt II sold 4,035 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $59.01, for a total transaction of $238,105.35. Following the completion of the transaction, the chairman now owns 129,269 shares of the company’s stock, valued at $7,628,163.69. The disclosure for this sale can be found here. In the last three months, insiders sold 8,135 shares of company stock valued at $469,294. 2.97% of the stock is owned by insiders.
Shares of Pinnacle Financial Partners stock traded down $0.57 on Friday, reaching $58.82. 729,874 shares of the stock were exchanged, compared to its average volume of 458,353. The firm’s 50 day simple moving average is $56.26. Pinnacle Financial Partners has a one year low of $43.23 and a one year high of $66.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 0.99. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 0.81 and a beta of 1.36.
Pinnacle Financial Partners (NASDAQ:PNFP) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.14. Pinnacle Financial Partners had a net margin of 30.46% and a return on equity of 9.82%. The company had revenue of $259.60 million during the quarter, compared to the consensus estimate of $252.44 million. During the same quarter in the prior year, the firm posted $1.15 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, research analysts predict that Pinnacle Financial Partners will post 5.27 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, August 1st. Pinnacle Financial Partners’s payout ratio is 13.50%.
Pinnacle Financial Partners Company Profile
Pinnacle Financial Partners, Inc operates as a bank holding company for Pinnacle Bank that provides various banking products and services in the United States. The company accepts various deposits, including savings, checking, interest-bearing checking, money market, and certificate of deposit accounts.
Read More: Outperform Rating
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